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New Jersey’s Division of Investment, which manages the pension, didn’t respond to a request for comment. Fund D’s assets stood at $52.3 billion as of June 30, 2019, out of the pension’s total assets of $89.6 billion. But the pension’s fiduciary net position as a percentage of the total pension liability was only 39.73% at that date, meaning the pension has only 40 cents for every dollar it owes. That is an improvement from 38 cents for every dollar owed the previous year.
Fund D sold 281,572 Apple shares in the second quarter, lowering its investment to 3 million shares of the iPhone maker.
Apple stock slipped about 15% in the first quarter as the coronavirus pandemic roiled the market. But shares have been on a tear since and now sport a 51.4% year-to-date gain through Friday’s close, including a 21.8% rise in the third quarter. By comparison, the S&P 500 index, a measure of the broader market, is up 3.7% year to date, including an 8.1% gain in the third quarter.
Apple crushed second-quarter earnings estimates, and declared a four-for-one stock split. The news lifted shares to new highs. Recently, CEO Tim Cook seemed to face less scrutiny than his peers as Big Tech testified before Congress.
New Jersey’s pension fund sold 315,424 Microsoft shares, ending June with 5 million shares of the software giant.
Microsoft stock surged 29% in the second quarter after a flat first. In the third, shares are up 4.4%.
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Microsoft shares recently rallied on news the company was planning to buy some of the operations of social-media giant TikTok, which is owned by Beijing-based firm ByteDance. President Donald Trump has said the U.S. government should get a cut of the purchase price, triggering anger in China.
GE stock has been pummeled, and has lost 43% of its market value this year.
GE’s second-quarter report was lackluster, in line with other aerospace suppliers’ stocks, but the company showed impressive cash management. A company subsidiary is working on Covid-19 treatments. In June, GE replaced its auditor.
New Jersey’s fund sold 353,822 GE shares to lower its investment to 6 million shares at the end of the second quarter.
The pension bought 148,407 Moderna shares in the second quarter. It hadn’t owned any shares of the biotech at the end of the first quarter.
Moderna stock has nearly quadrupled this year on hopes the company can develop a Covid-19 vaccine. Efficacy data could be available by Thanksgiving, and a Moderna vaccine could be with distributors in 2021. At least one analyst thinks Moderna stock is unattractive, despite saying its vaccine has high odds of receiving approval from the Food and Drug Administration.
GAXY starting to get some chatter on Twitter feed now. .01 is very possible next week
It’s always good to take some profits as GAXY runs up to 5 cents !!!!!
GLTA especially GAXY Longs
For whatever it’s worth,,,, I’m banking on your views .... if your correct,,,, penny land bound $$$$$$
Best of trades my friend
Better look at OTC pinks and read about GAXY,,,,,, not your normal sub penny stock
Long time coming my friend $$$$$
You’ve been here a while!!!!!
Aug 7 (Reuters) - Pfizer Inc said on Friday it signed a multi-year agreement with Gilead Sciences Inc to manufacture and supply the company's antiviral drug remdesivir for COVID-19 patients.
The U.S. drugmaker would provide contract manufacturing services at its facility in Kansas to produce the drug. (Reporting by Manas Mishra in Bengaluru; Editing by Anil D'Silva
$$$$$$$$$$$$$$$$$
Wait until next week,,,,, your golden my friend $$$$
Exciting time ahead here imo $$$$$
Shares of Moderna Inc. MRNA, +0.61% gained 1.9% in premarket trading on Wednesday after the company said it plans to complete enrollment for the Phase 3 trial for its COVID-19 vaccine candidate in September and that it has already received $400 million in deposits in preparation of the experimental vaccine's regulatory authorization. Moderna, founded in 2010, is considered a preclinical company because it does not market any approved medical products. "As we pivot to a commercial-stage company, we recognize the need for responsible pricing in the face of the pandemic," CEO Stephane Bancel said in a news release. Moderna is developing one of the frontrunning COVID-19 vaccines, and the orders and government funding for its candidate have shifted the company's balance sheet this year. Moderna had a loss of $116.5 million, or 31 cents per share, in the second quarter of 2020, compared with a loss of $134.9 million, or 41 cents per share, in the same quarter a year ago. It had revenue of $66.3 million in the quarter, up from $13.1 million in the like quarter in 2019, with the company attributing the increase to COVID-19 funding and unrelated collaboration revenue from AstraZeneca AZN, -1.30% AZN, +0.30%. Its general and administrative expenses were $36.6 million for the past three months, compared with $28.5 million for the same period a year ago. The company has $3.07 billion in cash, as of June 30, up from $1.26 billion in December. Moderna's stock has soared 301.1% year-to-date, while the S&P 500 SPX, +0.36% is up 2.3%.
Are we going to break 30 today???
Sales of its Covid-19 treatment could be worth more than $3 billion this year for Gilead Sciences, Citigroup’s Mohit Bansal said in a Monday morning note. That prospect inspired the analyst to raise his sales forecast and his price target for the stock to $80.
Gilead shares (ticker: GILD) were up 2.4% near midday Monday to $71.23. The S&P 500 was up 0.8%.
After donating its first batches, Gilead is now charging about $500 a vial in the U.S. for its antiviral drug remdesivir, and about $390 abroad. A course of treatment for hospitalized Covid patients uses about six vials. For the second half of this year, Bansal forecasts about 500,000 U.S. treatments and 625,000 elsewhere. That would add up to $3.1 billion to second-half revenue.
The remdesivir sales are a lucky thing for Gilead, because Covid lockdowns reduced the number of new patient starts for the company’s hepatitis-C drugs for the second quarter. Last week, Gilead reported that new starts fell 42% in the U.S. and 58% in Europe from the previous quarter. Consequently, earnings results fell short of expectations.
Bansal thinks the drugmaker’s hepatitis-C sales will recover by year-end. The second half will bring mixed news. Gilead’s HIV drug Truvada will go generic, but the company hopes to introduce a new product, Filgotinib, for autoimmune diseases such as arthritis. It is in a class of drugs known as JAK1 inhibitors, where it would compete against products from AbbVie (ABBV), Eli Lilly (LLY) and Pfizer (PFE).
Bansal now forecasts $7.08 a share in 2020 earnings for Gilead, on total sales of $24.2 billion. Next year, remdesivir sales should be lower, and Truvada’s expired patent will take down revenue, so Bansal figures earnings will drop to $6.89 a share
When will we know whether Moderna’s vaccine works? Now that the company has begun testing the vaccine in a pivotal Phase 3 trial, which aims to enroll up to 30,000 people, the answer depends on, among other things, how long it takes for enough people in the control group of the study to get sick with Covid-19.
As the world waits for answers on Moderna’s (ticker: MRNA) vaccine, the length of the wait depends on the intersection of epidemiology, statistics, and biology. In a note out Monday, Jefferies analyst Michael Yee has crunched the numbers and has an estimate as to when Moderna will be able to offer answers: sometime around Halloween.
“Based on our statistical model, we could be in for a ‘Halloween Treat’ with data achieving statistical significance potentially as early as Oct,” Yee wrote. He said that data from another Phase 3 trial testing Pfizer’s (PFE) Covid-19 vaccine could come around the same time, if not a bit earlier.
Based on assumptions about the drug’s efficacy, the current infection rates, and commentary from Moderna, Yee thinks that the study will hit its primary endpoint by Oct. 29. That assumes that the vaccine is roughly 60% effective and that infection rates in U.S. hot spots remains high.
Data five days before the presidential election leaves open the theoretical possibility that the Food and Drug Administration could face pressure from the White House to rapidly authorize the vaccine, a possibility examined in a Barron’s feature last month, though the window is extremely tight.
Yee wrote that he believed that the Moderna Phase 3 trial had a 65% chance of working.
Shares of Moderna are up 278.8% so far this year, and 469.6% over the past 12 months. The company has a market capitalization of $29.1 billion, despite having no approved products.
It is the largest biopharmaceutical company in the world by market cap by far with no approved products. Of the 15 analysts tracked by FactSet who follow the company, 12 rate it a Buy and three rate it a Hold.
The stock was up 1.1% on Monday morning.
By Deena Beasley and Michael Erman
(Reuters) - Gilead Sciences Inc on Thursday posted worse-than-expected quarterly results, but raised its 2020 sales forecast to include revenue from its antiviral drug remdesivir, one of the only treatments shown to help COVID-19 patients.
Gilead said it expects total 2020 sales of $23 billion to $25 billion, up from its previous range of $21.8 billion to $22.2 billion.
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"We think this implies up to $1 billion to $3 billion of remdesivir, ... a positive that was not expected at the start of the year," said Jefferies analyst Michael Yee.
Gilead's second-quarter sales fell nearly 10% from a year earlier to $5.1 billion, short of the average analyst estimate of $5.3 billion, according to Refinitiv.
The results reflected weak sales of Gilead's hepatitis C drugs and flagship HIV treatments during coronavirus pandemic lockdowns. The company said it expects its HIV drugs and hepatitis C sales to begin regaining momentum in the current third quarter.
Adjusted earnings for the second quarter of $1.11 per share fell short of analysts' average estimate by 34 cents.
Shares of Gilead, which closed up about 1% in regular trading, were down 3.5% at $69.80 in extended trading.
Second-quarter sales of Gilead's HIV drugs fell 1% from a year earlier to $4 billion, while sales of drugs to cure hepatitis C fell 47% to $448 million due to fewer new patients and competition from rival drugs.
Gilead this month began commercial sales of remdesivir, which is given to hospitalized patients by infusion. The drug was granted emergency use authorization by the U.S. Food and Drug Administration in May after it demonstrated an ability to shorten hospital stays for COVID-19 patients, but does not yet have full U.S. approval. It was approved in Japan.
Demand for remdesivir continues to outstrip supply in many parts of the world.
Gilead's chief executive, Daniel O'Day, on a conference call, said the company expects by the end of September to be producing enough remdesivir to meet real-time global demand.
Gilead said it still expects to manufacturer 2 million or more remdesivir treatment courses cumulatively in 2020, and its revenue outlook reflects expected sales of up to 1.5 million courses this year.
The company said it has launched a clinical trial of an inhaled formulation of remdesivir, with the aim of more effectively delivering the drug to lung tissue. Gilead also plans to study the drug in patients with earlier-stage COVID-19.
The U.S. National Institute of Allergy and Infectious Diseases is currently conducting a trial of remdesivir in combination with Olumiant, an arthritis drug from Eli Lilly & Co, and those results are expected next month.
So far, only remdesivir and the generic steroid dexamethasone have been shown in rigorous clinical trials to help patients with COVID-19.
Moderna, Inc. MRNA has been actively engaged in development of a coronavirus vaccine since January. The company is developing an mRNA-based vaccine, mRNA-1273, for COVID-19, which uses a genetic form of the virus' genome. The vaccine is intended to target the spike (S) protein of the coronavirus. Investors will likely focus on the progress and any update on the development of the vaccine when the company reports second-quarter 2020 results.
The company initiated a phase III earlier this week. The phase III study is evaluating 100 micrograms dose of mRNA-1273 administered on a two-dose vaccination schedule, given 28 days apart for safety and reactogenicity.
Moderna has also completed enrollment in a phase II study on mRNA-1273, which the company is conducting under its own investigational new drug application in June. The study is evaluating 50 µg and 100 µg doses of mRNA-1273. Interim data from a phase I study, announced earlier this month, demonstrated that participants vaccinated twice with mRNA-1273 induced rapid and strong immune responses against SARS-CoV-2.
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The company has been developing other mRNA-based vaccines targeting different indications in clinical stage studies.
The ongoing clinical activities as well as preparation for phase III study on mRNA-1273 are likely to have driven operating expenses higher in the second quarter.
We note that Pfizer PFE in collaboration with BioNTech BNTX and Sanofi SNY in collaboration with TranslateBio have also been developing mRNA-based vaccines for COVID-19.
Meanwhile, Moderna’s coronavirus development progress has attracted partnerships from other government as well global organizations namely, Coalition for Epidemic Preparedness Innovations (“CEPI”), the U.S. National Institute of Allergy and Infectious Diseases (“NIAID”) and the Biomedical Advanced Research and Development Authority ("BARDA"). These partnerships have provided grants to support the different stages of development of mRNA-1273.
The company has received a commitment of $472 million from the U.S. government's Operation Warp Speed program. This is an addition to the earlier commitment of $483 million to support late-stage development of its mRNA vaccine candidate against COVID-19 from the BARDA. These funds will be available to the company as and when needed. The Zacks Consensus Estimate for grant revenues is pegged at $21.2 million for the second quarter.
Moderna has few strategic alliances with pharma companies for the development of some of its pipeline candidates. These alliances generate collaboration revenues for the company. The Zacks Consensus Estimate for collaboration revenues is pegged at $11.7 million for the second quarter. (Read more: Moderna to Report Q2 Earnings: What's in the Cards?)
Moderna, Inc. Price and Consensus
Moderna, Inc. Price and Consensus
Moderna, Inc. Price and Consensus
Moderna, Inc. price-consensus-chart | Moderna, Inc. Quote
Zacks Rank
Moderna currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Spot on my friend. Can’t blame em for trying Lol!
On Sunday, Moderna (MRNA) disclosed it had been awarded an extra $472 million from the Biomedical Advanced Research and Development Authority (BARDA) to further support the development of mRNA-1273, its experimental COVID-19 vaccine. The new award follows a $483 million grant provided by BARDA in April, which means Moderna has now received a total of $955 million in funding from the U.S. government.
The award coincides with the initiation of Moderna’s Phase 3 study of mRNA-1273. The study began on Monday with the dosing of the first patients in the 30,000-participant study across 87 trial sites. If all goes according to plan, efficacy data for the study could become available as soon as Thanksgiving.
After gaining 298% since the turn of the year, Moderna shares experienced a rare setback last week following a ruling by the US Patent and Trademark Office (USPTO), which rejected Moderna’s claim that Arbutus Biopharma’s US patent on lipid nanoparticle (LNP) formulations should be revoked.
However, Chardan analyst Geulah Livshits argues the verdict will have little impact on Moderna’s COVID-19 vaccine program.
The 5-star analyst commented, “We would not anticipate IP negotiations to delay mRNA-1273 commercialization given the obviously important public health impact of a SARS-CoV-2 vaccine and the high degree of motivation among government agencies to roll out a vaccine as soon as possible. Moreover, we believe awards supporting development of mRNA-1273 and broader manufacturing scale-up reduce COGS across the platform and to us suggest Moderna's pipeline can become profitable even if royalty payments come into play in the future.”
To this end, Livshits rates MRNA a Buy along with a $95 price target, which implies nearly 20% upside from current levels. (To watch Livshits’ track record, click here)
When it comes to Moderna, Livshits’ colleagues hardly deviate from the Chardan playbook. MRNA's Strong Buy consensus rating is based on 13 Buy ratings and 4 Holds. The Street thinks a 17% premium will be added to MRNA shares over the next 12 months, going by the $90.67 average price target
(Reuters) - Moderna Inc plans to price its experimental coronavirus vaccine in a way that ensures broad access, it said on Wednesday, adding that it did not intend to conduct late-stage trials of the vaccine outside the United States.
Moderna began the U.S. government-backed trial on Monday, among a handful of companies that have started final testing of their experimental vaccines on tens of thousands of healthy volunteers.
Chief Executive Officer Stéphane Bancel declined to comment on the specific price of the vaccine on a conference call with analysts.
"We are highly aware of our obligation during the pandemic phase to be responsible in how we price the vaccine," Bancel said.
The Financial Times reported on Tuesday, citing unnamed sources, that the company was planning to price the vaccine at $50 to $60 per course, at least $11 more than another vaccine from Pfizer Inc and BioNTech.
Moderna executives also said the enrollment for the late-stage trial was on track and the company had seen tremendous interest from clinical sites.
(Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty)
Gilead has entered into an agreement with the European Commission to enable the purchase of its treatment for COVID-19 over the next few months under the Emergency Support Instrument.
— Gilead Sciences (@GileadSciences) July 29, 2020
https://www.fool.com/investing/2020/07/27/better-buy-southwest-airlines-vs-spirit-airlines.aspx
Keep shorting..... interesting read here
Something for you to read...
https://www.fool.com/investing/2020/07/28/why-carnival-corporation-royal-caribbean-and-norwe.aspx
Means nothing here on this board
Shoulda, woulda, coulda. That's likely what some investors are thinking with respect to Moderna (NASDAQ:MRNA). The company's initial public offering in 2018 was the biggest in biotech history. A year earlier, Moderna had been named to CNBC's list of the 50 top disruptors among private companies. There have been some pretty good signs that the biotech could be a big winner.
And winning is exactly what Moderna has done this year. It's become one of the most talked-about companies thanks to its progress in developing a COVID-19 vaccine candidate. The biotech stock has more than quadrupled.
Despite this huge gain, though, it might not be too late to buy Moderna. In fact, right now could be a great time to buy the stock for one key reason.
Hand holding blue marker with a hand-drawn clock containing the phrase "time to buy"
IMAGE SOURCE: GETTY IMAGES.
A pivotal study now in progress
On Monday, a pivotal phase 3 clinical study evaluating Moderna's COVID-19 vaccine candidate mRNA-1273 began dosing the first participants. The study will ultimately include around 30,000 participants across nearly 100 sites in the U.S.
This late-stage clinical trial is much bigger than just one biotech. Moderna is collaborating with the National Institute of Allergy and Infectious Diseases and the Biomedical Advanced Research and Development Authority. The study is being conducted with the support of Operation Warp Speed, the federal initiative to accelerate the development of COVID-19 vaccines.
Moderna also partnered with PPD to help with the phase 3 study. PPD ranks as one of the top contract research organizations and supported Moderna's phase 2 clinical trial of mRNA-1273 as well.
As the study shifts into full gear and more participants receive 100-microgram doses of Moderna's COVID-19 vaccine candidate, it will then basically become a waiting game. The primary endpoint of the study is the prevention of symptomatic COVID-19. The only way to know if mRNA-1273 can achieve this endpoint is to monitor participants for months to see how many begin to show symptoms of COVID-19.
Favorable probability
Why is Moderna's initiation of a phase 3 study a reason to buy the stock? The odds are now more in favor of success for mRNA-1273 than ever before.
When Moderna's COVID-19 vaccine candidate was only in phase 1 testing, its chances of eventually winning FDA approval were very low based on the history of experimental vaccines. Biotechnology industry trade group BIO found that between 2006 and 2015 only around 16% of vaccine candidates in phase 1 testing went on to obtain FDA approval.
The chances improved a little for vaccine candidates that made it to phase 2 studies. Around 24% of those experimental vaccines ultimately won FDA approval.
But if a vaccine candidate can make it to phase 3 test (as Moderna's mRNA-1273 just did), it's an entirely different story. Over 74% of experimental vaccines between 2006 and 2015 that entered phase 3 clinical testing secured FDA approval.
A more recent analysis conducted by researchers at the Massachusetts Institute of Technology provides even more reason to be optimistic about the prospects for mRNA-1273. The MIT study analyzed data from Jan. 1, 2000, to Oct. 31, 2015. More than 85% of vaccine candidates during this period that were evaluated in phase 3 studies later won FDA approval.
One potential catch
If history is any guide, Moderna is now much more likely to go all the way with mRNA-1273 as a result of the start of its phase 3 study this week. That would certainly seem to indicate that right now is a better time to buy the stock than before, when the probability of success for the vaccine candidate was significantly lower.
However, there's one potential catch: Moderna's valuation already assumed a high likelihood of success prior to the initiation of the phase 3 study of mRNA-1273. The biotech entered this week with a market cap of around $27 billion. Since Moderna currently has no product sales, investors were clearly betting that its COVID-19 vaccine candidate would make it to market.
But I'd argue that the stock still has plenty of room to run if all goes well for mRNA-1273. Moderna expects to be able to produce 500 million doses of the vaccine per year. If we assume that the biotech wins approval for mRNA-1273 and will be able to sell all those doses at $20 per dose, that's $10 billion in sales annually. And if Moderna makes $10 billion in sales, it's going to be worth a lot more than its current market cap of around $30 billion.
Sure, FDA approval for mRNA-1273 isn't a slam dunk. There's a distinct possibility that the experimental vaccine will fail and Moderna's shares will crash. However, the chances of success for the COVID-19 vaccine candidate are better than they've ever been. I think that makes right now the best chance investors who missed out on earlier opportunities will get to buy Moderna stock.